- Lowe & Partners Worldwide has triumphed in the pitch to handle the estimated $82 million (£50 million) global rebranding task for the international financial services giant, HSBC.
The win, which will make Lowe HSBC's central agency network, follows a four-way pitch involving the Bates, BBDO and Ogilvy & Mather networks. The pitches were run out of HSBC's global headquarters in London.
A media centralisation is now expected to follow the global agency appointment.
HSBC owns 19 bank brands around the world, which it is rebranding under the HSBC umbrella. The advertising brief is to support this transition.
The initial task is to develop a global branding campaign, thought to be backed by a budget of £25 million. But it is understood that Lowes now stands to pick up some local bits retail banking business, although there is nothing contractually to guarantee this.
In the UK Midland Bank began to rebrand at the end of last year with a campaign created by St Luke's, Midland's agency. New PHD handles the UK media planning and buying.
A spokesman for HSBC said no final decision had been taken on the Lowes' appointment, although he admitted that Lowes was the favourite. HSBC corporate affairs director Michael Broadbent is understood to have co-ordinated the pitch.
Meanwhile, the camera maker Olympus has appointed Lowe Howard-Spink in London to launch the Olympus APS camera, i Zoom 75, across Europe. The £5 million win follows a three-way pitch. against Young & Rubicam in Germany and DDB Needham in France.